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The Extra 2% in Everything

Tyler Cowen of Marginal Revolution likes to say “markets in everything”. Well, here’s The Extra 2% in everything, even international academies:

Even harder to believe is that the Rays have so far spent zero dollars on the construction of the academy. The $2.5 million project has been subsidized by both federal and local funds. Tampa Bay’s only financial commitment is for the upkeep of the academy, which could be anywhere from $500,000 to $1 million per year, for the next five years. Tampa Bay won’t even have to spend a dime on players’ medical care since all Brazilians are covered through the country’s universal health care plan.

This comes from a pretty nice article written by Jorge Arangure for ESPN the Magazine. People like to say, “ESPN sucks” and this and that, but there are some really talented folks working on the website, for the magazine, and moving up the ladders in front and behind the scenes on television. Don’t treat them with as closed of a mind as you perceive them to treat the Rays.